Nearly half of Ohio households have no savings, report says

By: Mark Williams

The Columbus Dispatch - January 30, 2014 12:29 PM

Despite an improving economy, many Ohio families remain on the edge of financial
devastation.

A report by the Corporation for Enterprise Development finds 44.7 percent of the state's
households are financially insecure, meaning that they have little or no savings to cover
emergencies such as a job loss or a health crisis. That's about the same as last year.

The report found that a majority of those households that live below the official proverty line
of $23,550 for a family of four are in that group along with 24 percent of households that earn
$50,881 to $80,952 a year.

Overall, the state ranks 36th among the 50 states and the District of Columbia when it comes to
achieving financial security. But the report puts the state 17th in terms of policies designed to
help households bolster their financial security.